Good News for the Beef Industry of the United States

It is expected that the beef industry of the United States is going to receive good news this Thursday because the union parliament of Europe is going to vote to permit more exports to the United States. This is undoubtedly the third great news for the meat industry of the United States. Recently, pork exports to China have increased and China also ended the ban of 5 years on the chicken exports of the US. Both these developments were a response to a huge crisis that China faced. The largest producer, as well as consumer of pork, decreased in supply after the attack of the African swine virus. This virus was responsible for decimating the supply of pork to a great extent.

The announcements came as several sectors of the export market of the United States, from lumber to soybeans to oil, have all been hobbled by the trade war that was raging between China and the US. The war was highly responsible for ruining the trade going on between both the US and China.

Indeed, the vote of the European Union is not going to undo the ban imposed in 1981 on the countries of the European Union and the imports of beef from the cattle that were raised by making use of the growth hormones, which is quite a common practice in the US. However, it is going to increase the quantity of the hormone-free quota, which would be reserved primarily for the US.

The fight

The fight that continued over the growth hormones, as well as beef undoubtedly, have a long as well as tortured history. This history is present among the European Nations as well as the US and the European countries as well as the European Union.

The quota, which was established in the year 2009, was dominated by the US until a few other nations, like Australia, Argentina, and Uruguay, started exporting to the European Union. The US percentage started falling from 100% to 30%.

88% of the fresh beef export market of the United States is responsible for going to only five Nations, Mexico, Japan, South Korea, Taiwan, and Canada. Italy and the Netherlands, the two European Nations among the top export markets of the US, are responsible for accounting for less than 4%.

Frozen beef exports

When considering the frozen beef exports, another important category belonging to the data of the U.S. Census Bureau, one European nation is responsible for ranking the highest among the top 20 markets. This nation is Germany. Germany is responsible for accounting for almost one-third of one percent of the entire beef export of the US, which has been a great positive impact on the industry. After all the calculations and statistics, it can be said that the United States is finally going to receive the good news related to the beef industry.

The US beef industry has been waiting for this news for a long time. Irrespective of the fact that the industry is relatively small, the news is going to be great for the beef industry. The people belonging to this industry are going to rejoice at this news.